Massive Tech Companies Feel the Pressure

Written by Jennifer Clark
Posted April 8, 2020

COVID-19 has taken thousands of lives around the globe. As I’m writing this, there are over a million confirmed cases in 209 countries and territories. This virus has affected everyone — some more than others. Regardless of to what degree of pain and anguish this virus has caused some people, we all have something in common and that’s we’re all affected by it — in some shape or form. 

In the U.S. millions of people have applied for unemployment and are unsure of what the future holds for them. Then other essential employees are still reporting to work. Among those essential employees are health care workers who are quite literally putting their lives on the line to help the public.

Considering the amount of money that we pay into our health insurance and that we pay into health care, you would think hospitals and health care workers would have the supplies that they need to fight this virus. And protect themselves from the virus. However, they do not. It’s astonishing to see how hospitals don’t have enough supplies and medical equipment to treat patients or to even prepare for the worst-case scenario. 

The worst-case scenario is happening for a lot of hospitals and healthcare workers and first-responders. Unfortunately, it isn’t an episode of Grey’s Anatomy for these people. Its real life and they’re out crying for help and assistance during this pandemic.

Facing this reality has put a lot of pressure on some of the world’s richest people and the biggest companies. All eyes are on them and how they’ll do their part to help fight this virus. And at the very least, help the people who need it the most.

Some companies are doing it because they don’t want the backlash when all of this is over and some companies are doing it for the greater good. However, we’ll never really know. But I’d like to assume that there is a heart inside these CEOs.

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Microsoft’s (NASDAQ: MSFT) founder and philanthropic billionaire, Bill Gates, plans to spend billions of dollars on seven vaccines for COVID-19 to find one that will end the pandemic. His philanthropic organization, the Bill & Melinda Gates Foundation, will assist with this goal. Gates on a recent interview on The Daily Show with Trevor Noah said:

Of all the vaccine constructs, the seven most promising of those, even though we’ll end up picking at most two of them, we’re going to fund factories for all seven, and just so that we don’t waste time in serially saying, ‘Okay, which vaccine works?’ And then building the factory. 

He went on further to say:

The situation we’re in, where there’s trillions of dollars — that’s a thousands times more — trillions of dollars being lost economically, it is worth it.

Years ago in a Ted Talk, Gates was warning of this very pandemic and that the world needed to prepare for something like this, but no one listened because it didn’t seem believable. Now it’s believable, and now it’s happening. No one is twisting Bill Gates’ arm to get this funding to companies working on vaccines. He has the funds to do this and in the long run, it’ll benefit the world economy.

Microsoft’s (NASDAQ: MSFT) founder Bill Gates and Apple’s (NASDAQ: AAPL) CEO Tim Cook have stepped in to help with the fight against COVID-19. Find out how these massive tech companies are doing their part during this pandemic. Tim Cook announced that Apple will produce one million face shields per week for medical workers. The company has already donated 20 million N95 masks to governments and hospitals.

In a video this past Sunday, Cook said:

We’ve launched a company-wide effort, bringing together product designers, engineering, operations and packaging teams, and our suppliers to design, produce, and ship face shields for health workers. Our first shipment was delivered to Kaiser hospital facilities in Santa Clara Valley this past week and the feedback from doctors was very positive. 

There has been a shortage of personal protective equipment (PPE) throughout hospitals across the nation. Items like face shields and masks help fight against the spread of the virus to essential workers like doctors, nurses, EMTs, etc. These are the people who need it the most and having Apple step in to do what they can — is very important and helpful. 

To be honest, it’s good to see some billionaires and massive companies have a little compassion. 

Until next time, 

Jennifer Clark
Pro Trader Today
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